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It’s estimated that around 43% of all small to mid-sized businesses lack barcode tracking, a known way to improve inventory accuracy. If you are still using paper-based counts, spreadsheets, or worse still, aren’t tracking your inventory at all, then these inventory management tips and best practices will make a big improvement in your company. An inventory tracker is an automated system of tracking items entering the warehouse from receiving, tracking their location and quantity while they are in the warehouse itself, and then tracking them as they leave inventory to fulfill customer orders. Even though companies are manufacturing and moving goods at a faster rate, they still tend to hold onto too much and overstock their inventory (Source: Supply Chain News). As the number of days outstanding grows, the value of the inventory decreases. Your company ends up spending more money to maintain warehouse facilities and personnel to maintain an overabundance of goods that shrinks in value. Is there a way to improve inventory accuracy? The answer lies in the software used throughout your company for inventory management, as well as the attention given to inventory management best practices. With a software upgrade and an adjustment in your warehouse management […]